Orion Portfolio Solutions LLC Sells 12,651 Shares of Rogers Communications Inc. (NYSE:RCI)

Orion Portfolio Solutions LLC lessened its holdings in Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B by 21.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,058 shares of the Wireless communications provider's stock after selling 12,651 shares during the period. Orion Portfolio Solutions LLC's holdings in Rogers Communications were worth $1,385,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Crossmark Global Holdings Inc. lifted its position in Rogers Communications by 1.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 23,563 shares of the Wireless communications provider's stock worth $725,000 after acquiring an additional 379 shares during the last quarter. Verition Fund Management LLC lifted its holdings in Rogers Communications by 7.9% during the 3rd quarter. Verition Fund Management LLC now owns 7,484 shares of the Wireless communications provider's stock worth $301,000 after purchasing an additional 551 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Rogers Communications by 4.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,194 shares of the Wireless communications provider's stock valued at $436,000 after purchasing an additional 571 shares during the period. Waldron Private Wealth LLC grew its holdings in Rogers Communications by 3.1% in the 4th quarter. Waldron Private Wealth LLC now owns 21,943 shares of the Wireless communications provider's stock valued at $682,000 after buying an additional 660 shares in the last quarter. Finally, State Street Corp increased its position in Rogers Communications by 0.5% during the 3rd quarter. State Street Corp now owns 136,766 shares of the Wireless communications provider's stock worth $5,550,000 after buying an additional 661 shares during the period. Institutional investors own 45.49% of the company's stock.

Rogers Communications Price Performance

Shares of RCI stock traded down $0.79 during trading hours on Tuesday, reaching $23.94. The company's stock had a trading volume of 1,664,169 shares, compared to its average volume of 994,597. Rogers Communications Inc. has a fifty-two week low of $23.73 and a fifty-two week high of $41.84. The firm's 50 day simple moving average is $27.44 and its 200-day simple moving average is $32.04. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 3.67. The company has a market capitalization of $12.83 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 1.43 and a beta of 0.67.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last released its quarterly earnings data on Thursday, January 30th. The Wireless communications provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. Rogers Communications had a return on equity of 25.19% and a net margin of 8.40%. Sell-side analysts forecast that Rogers Communications Inc. will post 3.57 earnings per share for the current year.

Rogers Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 10th were given a dividend of $0.347 per share. This represents a $1.39 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date of this dividend was Monday, March 10th. Rogers Communications's dividend payout ratio is 59.48%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RCI. Canaccord Genuity Group raised shares of Rogers Communications from a "hold" rating to a "buy" rating in a research report on Friday. Bank of America downgraded shares of Rogers Communications from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Barclays reaffirmed an "equal weight" rating on shares of Rogers Communications in a report on Tuesday, January 21st. Scotiabank cut Rogers Communications from a "sector outperform" rating to a "sector perform" rating in a research note on Tuesday, April 1st. Finally, Morgan Stanley initiated coverage on Rogers Communications in a research note on Monday, December 16th. They set an "underweight" rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $61.75.

About Rogers Communications

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.